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BTC, ETH and XRP Price Analysis for December 20

How long will Ethereum (ETH) and XRP keep growing faster than Bitcoin (BTC)?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

At the end of the week, the cryptocurrency market has entered a short-term correction phase as some coins from the Top 10 list are in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The main data for Bitcoin (BTC), Ethereum (ETH) and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$433,691,429,957 $23,421.39 $42,585,846,715 1.87%

Ethereum

ETH

$73,404,844,724 $645.97 $15,287,234,909 -1.11% 

XRP

XRP

$25,845,742,899 $0.570902 $10,352,626,106 -1.23%

BTC/USD

Bitcoin (BTC) is the biggest gainer among the Top 3 coins this week. The rate of the main crypto has gone up by 20% over the past 7 days.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is not going to face a correction even in the short-term projection. The selling trading volume is low, which means that bears have not entered the market yet. Applying the Fibonacci retracement on the chart, the closest resistance level is located around $25,200; it may be achieved next week.

Bitcoin is trading at $23,420 at press time.

ETH/USD

Ethereum (ETH) has been bearish since yesterday, however, the rate of the leading altcoin has risen by 10% over the last week.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) has much more space for growth as the coin has not updated its peak yet. On the weekly time frame, the next resistance at which a short-term drop may occur is the level of $731. If bulls keep trading above $640, the resistance may be attained shortly.

Ethereum is trading at $646.37 at press time.

XRP/USD

XRP is the top loser today as its rate has gone down by 1.23% over the last 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 8H chart, XRP is trading in a narrow range, gathering efforts for a sharp move. From the technical point of view, one may expect continued growth as most of the liquidity is focused in the area around $0.60.

👉 MUST READ XRP Price Analysis for December 19related article image

In case bulls manage to hold this level, there is a chance of getting to $0.65.

XRP is trading at $0.5696 at press time.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com